New Investment to Deliver More

August 22nd, 2018

The Market Opportunity for Trusted HR Knowledge

By Pete Yozzo

Today, ThinkHR announced a $67.5 million investment from Guidepost Growth Equity. This is a big deal on multiple fronts, but I want to underscore two things off the bat. First, this is a huge validation of our vision to bring trusted HR knowledge software and services to a vast market of potential customers who have been underserved historically. Second, it gives us additional fuel to solve even more customer problems faster—which will only increase our value, whether you’re an insurance broker or a payroll or HR technology provider.

I’m really excited, and I think the timing and conditions are perfect for ThinkHR to take things to the next level. How so?

Trust. Trust is the root of our success with customers. We offer the most complete, up-to-date, actionable HR knowledge available. We do it with a unique combination of technology and live expert advice that no one else offers. That’s why we get thousands of live advisory calls every week. And why tens of thousands of companies use our database every single month. All to get advice and find answers to some really complex and high-stakes issues.

Value. There’s no lack of HR and compliance issues, and employers can’t keep pouring countless hours into research or paying expensive fees to consultants or lawyers to find answers. Plus, we see more and more business partners who want to integrate HR knowledge into their products and services, so they can deliver more value to their customers. As we tackle more problems, ThinkHR’s focus on trusted advice, tools, and training becomes that much more valuable to a growing market.

Tangible returns. Better close rates, less churn, and stronger long-term relationships—if you’re an insurance or payroll partner, those are the benefits you can expect from ThinkHR. If you’re an HR technology provider, ThinkHR is the partner that can fill the “HR knowledge gap” in your portfolio. And HR pros themselves are able to save time, reduce cost, and solve more problems for their businesses. This kind of tangible ROI is driving greater and greater demand for ThinkHR.

We’re investing to be even better. We are in a race, and my strategy for winning is pretty simple: Run faster and solve more problems than the other guys. To that end, we’ll further invest across sales, marketing, and engineering to keep driving growth. We will develop and launch new products and services based on our massive HR dataset, while tapping advanced technologies like AI to deliver greater efficiencies and more value. All in concert with the best live HR advisory service on the planet.

I don’t want to let this occasion pass without recognizing all of our customers, employees, and investors who have helped us get to this point. Thank you for your business, for your hard work and your dedication. None of this happens without you.

The market is telling us in no uncertain terms: We want more. I’m so looking forward to this next part of our journey, as ThinkHR meets that market call.

About Pete Yozzo

Pete is the founder of ThinkHR and has served as Chief Executive Officer since the company's inception in 2004. Pete founded ThinkHR after recognizing that the advantages of outsourcing in the IT industry would also benefit the HR industry and present significant business opportunities.